Investment Objective/Strategy -The First Trust United Kingdom AlphaDEX® Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an equity index called the NASDAQ AlphaDEX® United Kingdom Index.

There can be no assurance that the Fund's investment objectives will be achieved.

The NASDAQ AlphaDEX® United Kingdom Index is an "enhanced" index created and administered by Nasdaq, Inc.
("Nasdaq") which employs the AlphaDEX® stock selection methodology to select stocks from the NASDAQ United Kingdom Index
that meet certain criteria.

Nasdaq constructs the NASDAQ AlphaDEX® United Kingdom Index by ranking the eligible stocks from the
NASDAQ United Kingdom Index on growth factors including 3-, 6- and 12- month price appreciation,
sales to price and one year sales growth, and separately on value factors including book value to price,
cash flow to price and return on assets. All stocks are ranked on the sum of ranks for the growth factors and,
separately, all stocks are ranked on the sum of ranks for the value factors.
A stock must have data for all growth and/or value factors to receive a rank for that style.

Each stock receives the best style rank from the previous step as its selection score.

The top 75 stocks based on the selection score determined in the previous step comprise the "selected stocks".
The selected stocks are divided into quintiles based on their rankings and the top
ranked quintiles receive a higher weight within the index. The stocks are equally-weighted within each quintile.

Each stock is then tested in order of its selection score rank to check if the weight assigned
to that stock is outside the sector weighting constraints, which are set at 15% above the benchmark weight.

If the weight assigned to the stock, when added with the weight assigned to all higher ranking stocks in its sector,
is greater than the constraint, then the stock's weight is lowered to the highest rank in the next quintile.
Stocks previously lower in rank then move up one rank. Such stocks in the lowest quintile that violate a constraint
are removed from the portfolio and replaced by the highest scoring stock not originally selected, subject to sector
constraints. This process continues until all the sector weightings meet the constraint.

The index is reconstituted and rebalanced semi-annually.

Fund Overview

Ticker

FKU

Fund Type

International Equity

Investment Advisor

First Trust Advisors L.P.

Investor Servicing Agent

Brown Brothers Harriman

CUSIP

33737J224

ISIN

US33737J2244

Intraday NAV

FKUIV

Fiscal Year-End

12/31

Exchange

Nasdaq

Inception

2/14/2012

Inception Price

$30.12

Inception NAV

$30.12

Rebalance Frequency

Semi-Annual

Expense Ratio

0.80%

Current Fund Data (as of 1/18/2019)

Closing NAV1

$34.71

Closing Share Price2

$34.78

Bid/Ask Midpoint

$34.77

Bid/Ask Premium

0.17%

Total Net Assets

$8,676,413

Outstanding Shares

250,002

Daily Volume

1,089

Average 30-Day Daily Volume

6,592

Closing Share Price 52-Week High/Low

$43.39 / $31.21

Closing NAV 52-Week High/Low

$43.34 / $31.15

Number of Holdings

75

Fund Characteristics (as of 12/31/2018)7

Maximum Market Cap.

$242,180

Median Market Cap.

$6,502

Minimum Market Cap.

$2,236

Price/Earnings

9.18

Price/Book

1.60

Price/Cash Flow

6.81

Price/Sales

0.88

Top Holdings (as of 1/18/2019)

Holding

Percent

Bellway Plc

2.47%

Barratt Developments Plc

2.43%

3i Group Plc

2.28%

The Unite Group Plc

2.27%

Segro Plc

2.25%

Anglo American Plc

2.19%

WPP Plc

2.18%

Polymetal International Plc

2.16%

Bunzl Plc

2.15%

British American Tobacco Plc

2.14%

Holdings are subject to change.

NAV History (Since Inception)

Past performance is not indicative of future results.

Distribution Information

Dividend per Share Amt (as of 1/21/2019)3

$0.2687

30-Day SEC Yield (as of 12/31/2018)4

3.23%

12-Month Distribution Rate (as of 12/31/2018)5

5.11%

Index Yield (as of 12/31/2018)6

4.54%

Bid/Ask Midpoint vs. NAV (as of 12/31/2018)

Number of Days Bid/Ask Midpoint Above NAV

Quarter Ended

0-49Basis Points

50-99Basis Points

100-199Basis Points

>=200Basis Points

12/31/2018

25

12

1

1

9/30/2018

36

3

0

0

6/30/2018

31

2

0

0

3/31/2018

13

1

0

0

Number of Days Bid/Ask Midpoint Below NAV

Quarter Ended

0-49Basis Points

50-99Basis Points

100-199Basis Points

>=200Basis Points

12/31/2018

20

3

1

0

9/30/2018

24

0

0

0

6/30/2018

29

2

0

0

3/31/2018

38

9

0

0

The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.

Top Sector Exposure (as of 1/18/2019)

Consumer Discretionary

18.95%

Industrials

16.64%

Materials

14.35%

Financials

11.41%

Consumer Staples

8.74%

Communication Services

7.63%

Real Estate

5.86%

Health Care

5.68%

Energy

4.47%

Information Technology

3.18%

Utilities

3.09%

Month End Performance (as of 12/31/2018)

3 Mos

YTD

1 Year

3 Year

5 Year

10 Year

SinceFundInception8

Fund Performance *

Net Asset Value (NAV)

-15.42%

-16.16%

-16.16%

-4.05%

-2.45%

N/A

4.07%

After Tax Held

-15.70%

-17.60%

-17.60%

-5.37%

-3.73%

N/A

2.75%

After Tax Sold

-9.13%

-9.42%

-9.42%

-3.55%

-2.33%

N/A

2.62%

Market Price

-15.73%

-15.60%

-15.60%

-4.04%

-2.73%

N/A

4.03%

Index Performance **

NASDAQ AlphaDEX® United Kingdom Index

-15.44%

-15.32%

-15.32%

-3.02%

N/A

N/A

N/A

MSCI United Kingdom Index

-11.78%

-14.15%

-14.15%

1.60%

-1.71%

N/A

2.62%

NASDAQ United Kingdom Index

-12.68%

-15.17%

-15.17%

0.91%

-1.56%

N/A

N/A

Quarter End Performance (as of 12/31/2018)

3 Mos

YTD

1 Year

3 Year

5 Year

10 Year

SinceFundInception8

Fund Performance *

Net Asset Value (NAV)

-15.42%

-16.16%

-16.16%

-4.05%

-2.45%

N/A

4.07%

After Tax Held

-15.70%

-17.60%

-17.60%

-5.37%

-3.73%

N/A

2.75%

After Tax Sold

-9.13%

-9.42%

-9.42%

-3.55%

-2.33%

N/A

2.62%

Market Price

-15.73%

-15.60%

-15.60%

-4.04%

-2.73%

N/A

4.03%

Index Performance **

NASDAQ AlphaDEX® United Kingdom Index

-15.44%

-15.32%

-15.32%

-3.02%

N/A

N/A

N/A

MSCI United Kingdom Index

-11.78%

-14.15%

-14.15%

1.60%

-1.71%

N/A

2.62%

NASDAQ United Kingdom Index

-12.68%

-15.17%

-15.17%

0.91%

-1.56%

N/A

N/A

3-Year Statistics (as of 12/31/2018)

Standard Deviation

Alpha

Beta

Sharpe Ratio

Correlation

FKU

15.31%

-4.65

1.14

-0.26

0.89

MSCI United Kingdom Index

11.38%

0.64

0.94

0.11

0.99

NASDAQ United Kingdom Index

11.99%

---

1.00

0.05

1.00

Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms
on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure
of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.

*Performance data quoted represents past performance. Past performance is not a guarantee of future
results and current performance may be higher or lower than performance quoted. Investment returns
and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than
their original cost.

After Tax Held returns represent return after taxes on distributions. Assumes shares have not been sold.
After Tax Sold returns represent the return after taxes on distributions and the sale of fund shares. Returns
do not represent the returns you would receive if you traded shares at other times. Market Price returns are
based on the midpoint of the bid/ask spread on the stock exchange on which shares of the fund are listed for
trading as of the time that the fund’s NAV is calculated. Returns are average annualized total returns, except
those for periods of less than one year, which are cumulative.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and
do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax
situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold
their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

**Performance information for the NASDAQ AlphaDEX® United Kingdom Index is for illustrative purposes only and does not represent actual fund performance.

Indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index.

On July 14, 2015, the fund's underlying index changed from the Defined United Kingdom Index to the NASDAQ AlphaDEX® United Kingdom Index. Therefore, the fund's performance and historical returns shown for the periods prior to this date are not necessarily indicative of the performance that the fund, based on its current index, would have generated.

MSCI United Kingdom Index - The Index measures the performance of the United Kingdom's equity market.

NASDAQ United Kingdom Index - The Index is a float adjusted market capitalization-weighted index designed to track the performance of securities assigned to the United Kingdom.

Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).

3

Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.

4

The 30-day SEC yield is calculated by dividing the net investment income per share earned during the most recent 30-day period by the maximum offering price per share on the last day of the period and includes the effects of fee waivers and expense reimbursements, if applicable.

5

12-Month Distribution Rate is calculated by dividing the sum of the fund's trailing 12-month ordinary distributions paid or declared by the NAV price. Distribution rates may vary.

6

Index yield represents the weighted average trailing 12-month dividend of the constituents of the NASDAQ AlphaDEX® United Kingdom Index.

7

All market capitalization numbers are in USD$ Millions.

8

Inception Date is 2/14/2012

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on The Nasdaq Stock Market LLC.

The fund's return may not match the return of the NASDAQ AlphaDEX® United Kingdom Index. Securities held by the fund will generally not be bought or sold in response to market fluctuations.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions.
Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share's net
asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be
redeemed directly from the fund by authorized participants, in very large creation/redemption units. If the fund's authorized participants are unable
to proceed with creation/redemption orders and no other authorized participant is able to step forward to create or redeem, fund shares may trade at
a discount to the fund's net asset value and possibly face delisting.

Risk Considerations

The fund's shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular stock owned by the fund, fund shares or stocks in general may fall in value. There can be no assurance that the fund's investment objective will be achieved.

The fund may invest in securities issued by companies concentrated in a particular sector which involves additional risks including limited diversification. The fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

An investment in a fund containing securities of non-U.S. issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

The United Kingdom is a member of the European Union and the continued implementation of the European Union provisions and political and social change throughout Europe make the extent of future economic development and their effect on securities issued by United Kingdom companies impossible to predict. Despite the fact that the United Kingdom did not convert to the Euro, the European sovereign debt crisis has resulted in a weakened Euro and has put into question the future financial prospects of the United Kingdom and the surrounding region.

The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

Changes in currency exchange rates and the relative value of non-US currencies may affect the value of a fund's investments and the value of a fund's shares.
Large inflows and outflows may impact the fund's market exposure for limited periods of time.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund's distributor.

The NASDAQ AlphaDEX® United Kingdom Index (the "Index") is a trademark of Nasdaq, Inc. and has been licensed for use by
First Trust Portfolios L.P. AlphaDEX® is a trademark owned by First Trust Portfolios L.P. and has been licensed to
Nasdaq, Inc. for use in the name of the Index. The First Trust United Kingdom AlphaDEX® Fund is not sponsored,
endorsed, sold or promoted by Nasdaq, Inc. and Nasdaq, Inc. makes no representation or warranty regarding
the advisability of investing in the First Trust United Kingdom AlphaDEX® Fund or as to the result to be obtained by
any person from use of the Index in connection with the trading of the First Trust United Kingdom AlphaDEX® Fund.

"AlphaDEX®" is a registered trademark of First Trust Portfolios L.P. First Trust Portfolios L.P. has obtained a patent for the AlphaDEX® stock selection methodology from the United States Patent and Trademark Office.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.

First Trust Portfolios L.P. Member SIPC and FINRA.
First Trust Advisors L.P.